Wall Street brokerages expect Masco Co. (NYSE:MAS) to post earnings per share of $1.06 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Masco’s earnings, with the lowest EPS estimate coming in at $1.00 and the highest estimate coming in at $1.14. Masco posted earnings per share of $0.84 in the same quarter last year, which would suggest a positive year over year growth rate of 26.2%. The company is scheduled to report its next quarterly earnings report on Thursday, July 29th.
According to Zacks, analysts expect that Masco will report full year earnings of $3.60 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.73. For the next year, analysts anticipate that the firm will report earnings of $3.96 per share, with EPS estimates ranging from $3.68 to $4.23. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Masco.
Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, April 28th. The construction company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.23. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Masco had a net margin of 21.27% and a return on equity of 1,966.88%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share.
A number of research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Masco in a report on Tuesday, March 23rd. They set a “peer perform” rating for the company. Credit Suisse Group lifted their price objective on shares of Masco from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. They noted that the move was a valuation call. Jefferies Financial Group cut shares of Masco from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $61.00 in a report on Monday, January 4th. Loop Capital cut shares of Masco from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a report on Wednesday, February 10th. Finally, Truist boosted their price target on shares of Masco from $70.00 to $75.00 in a report on Thursday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Masco currently has a consensus rating of “Buy” and a consensus target price of $62.91.
In other news, CEO Keith J. Allman sold 28,261 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $56.21, for a total value of $1,588,550.81. Following the sale, the chief executive officer now owns 340,484 shares of the company’s stock, valued at $19,138,605.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John G. Sznewajs sold 7,615 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $56.21, for a total transaction of $428,039.15. Following the transaction, the chief financial officer now directly owns 222,475 shares of the company’s stock, valued at approximately $12,505,319.75. The disclosure for this sale can be found here. In the last three months, insiders sold 54,075 shares of company stock worth $3,080,977. Insiders own 1.23% of the company’s stock.
Large investors have recently modified their holdings of the stock. Northern Trust Corp grew its stake in Masco by 0.6% in the 4th quarter. Northern Trust Corp now owns 7,108,106 shares of the construction company’s stock worth $390,448,000 after buying an additional 39,715 shares in the last quarter. Wells Fargo & Company MN grew its stake in Masco by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 4,525,873 shares of the construction company’s stock worth $248,608,000 after buying an additional 969,633 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Masco by 3.7% in the 4th quarter. Nuveen Asset Management LLC now owns 3,778,682 shares of the construction company’s stock worth $207,563,000 after buying an additional 134,086 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Masco by 16.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 3,478,281 shares of the construction company’s stock worth $191,062,000 after buying an additional 492,739 shares in the last quarter. Finally, Boston Partners grew its stake in Masco by 1.2% in the 4th quarter. Boston Partners now owns 3,476,347 shares of the construction company’s stock worth $190,955,000 after buying an additional 41,583 shares in the last quarter. 90.93% of the stock is owned by institutional investors.
Shares of NYSE MAS traded up $0.35 during mid-day trading on Tuesday, reaching $65.49. 55,228 shares of the company’s stock traded hands, compared to its average volume of 2,000,661. The stock has a market cap of $16.63 billion, a P/E ratio of 12.11, a PEG ratio of 1.23 and a beta of 1.33. The business has a 50-day simple moving average of $61.41 and a 200 day simple moving average of $56.64. Masco has a 1-year low of $38.98 and a 1-year high of $65.42. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.01 and a quick ratio of 1.54.
Masco announced that its board has initiated a stock repurchase plan on Tuesday, February 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 13.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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